Re rate happening, page-3837

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22/12/23

18:01

Post #: 71596537
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Originally posted by Maverick7: ↑

Hi Folks,

Back with some uncomfortable truths for those who can stomach.

1. Phase 2 Lithium drilling
Looks like the same as for the 1st phase ie. negligible Li results based on the fact that the announcement is similar to the previous announcement with little detail and subtle clues suggesting they've again found nothing, compounded by a non-market sensitive announcement and a big dump of shares the day before.

2. Niobium
Lots of holders seem to think this will be their ticket to fortune, but before you bet the house or put a deposit on the Ferrari, consider the following:
Walbi Creek is a pegmatite hosted system, WA1 is a carbonatite ie. different geological hosts.

Carbonatites have a 9% chance of hosting a mine, which is exceptionally high considering the generally stated theory that roughly 0.1% of mining projects will become a mine.

To my knowledge there are no 'primary' niobium deposits hosted in pegmatites in Australia, so for those making comparisons to WA1's discovery you are comparing apples with oranges. That they've found some high grade rock-chips and anomalous soils, while better than nothing, hardly guarantees success as shown by their 1st phase lithium drilling which had both on surface but nothing economic underneath.
Realistically, I think the chances are very remote of finding a high-grade, decent tonnage niobium resource.

Also, keep in mind that niobium is quite a small market with only a handful of companies with primary niobium mines.

Per usual, I'll be ignoring childish ad-hominem attacks or "what stocks do you like", but will respond to genuine and respectful questions.

Cheers

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Thanks maverick you just summed it up to a tee and the share price agrees

RR1 Price at posting: 0.4¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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(20min delay)
Last 1.2¢		Change 0.000(0.00%)		Mkt cap ! $10.49M

Open	High	Low	Value	Volume
1.2¢	1.2¢	1.2¢	$150	12.5K

Buyers (Bids)

No.	Vol.	Price($)
3	1655636	1.1¢

Sellers (Offers)

Price($)	Vol.	No.
1.2¢	32123	1

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No.	Vol.	Price($)
3	1655636	0.011
14	1848000	0.010
5	2662436	0.009
8	2610074	0.008
7	1806564	0.007

Price($)	Vol.	No.
0.012	32123	1
0.013	800000	3
0.014	1892903	4
0.015	1067878	6
0.016	1358850	3

Last trade - 10.06am 14/11/2024 (20 minute delay)

RR1 (ASX) Chart

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Re rate happening, page-3837

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